Torrent Pharmaceuticals will acquire a controlling stake in J. B. Chemicals and Pharmaceuticals from global investment firm KKR in a deal worth roughly $1.38 billion (119 billion rupees).
Torrent will buy KKR’s 46.39% equity stake, in a deal that will enable Ahmedabad, India-based Torrent to create a “future-ready, diversified health care platform combining a deep chronic segment heritage with emerging international CDMO capabilities.” The deal will involve a merger between Torrent and JB Pharma.
JB Pharma is a leading player in India’s hypertension segment. The company exports its finished formulations to over 40 countries including the U.S. and also offers CDMO services, with a specialty in medicated lozenges. For Torrent, the deal provides access to a fast-growing India franchise and entry into untapped therapeutic areas like ophthalmology.
“This strategic alignment furthers our goal of strengthening our presence in the Indian pharma market and build a larger diversified global presence. Moreover, the CDMO platform provides a new long-term avenue of growth for Torrent,” said Samir Mehta, Torrent Executive Chairman.